Speaker announces $1.6 Trillion budget

[tommac919]

If I have to keep my budget balanced, then so should the Govt

[sqlbullet]

Unfunded liabilities were at nearly 127 trillion on Jan 17, 2014 according to Forbes.

http://www.forbes.com/sites/realspin/2014/01/17/you-think-the-deficit-is-bad-federal-unfunded-liabilities-exceed-127-trillion/#4f4b793810d3

Looks like it is headed in the right direction.  As a matter of fact, another 8 years at that reduction amount per year and it will indeed be gone.   Or course, that isn't going to happen.  Best bet would be to hold that reduction rate, which would put the amount at 41.4 trillion in 8 years.

Again, though, I look at liabilities vs assets, and I see we have a net positive worth.  So the trick is to keep that trend, of growing our asset base faster than our liabilities.

[Wolfie]

I agree that the budget should be balanced. In 2000 the debt load was $5 trillion with small surpluses. If the Clinton tax rates were left alone. We would have been debt free in 2012. When Bush got in, they decided that 2 tax cuts without offsets would eliminate the debt in 2007.

In late 2011 early 2012. The president offered congress a 4-1 deal in favor of congress. Congress refused, the president was re elected and it became a 1-1 deal. You guys remember the GOP debates were they all said they would not even take a 10-1 deal in their favor.

When it comes to economics, the evidence is clear. Democrats are better at money issues.

[Rich10]

When it comes to economics, the evidence is clear. Democrats are better at money issues.

How so?  Have you seen the prez' budget proposal?

[Wolfie]

1. "Since 1961 ... our private economy has produced 66 million private-sector jobs. So what's the jobs score? Republicans 24 million, Democrats 42 (million)."

— Bill Clinton on Wednesday, September 5th, 2012 in a speech to the Democratic National Convention in Charlotte, N.C.

2. Americans' Wealth Hits Record as Rich Get Richer

Rising Home, Stock Prices Fuel Gains, but Economy May Not See Full Benefit
By NEIL SHAH

Americans' wealth hit a fresh record in the first quarter amid a rise in home values and stock prices, a trajectory poised to continue as U.S. markets push higher but one that doesn't necessarily figure to rev up the sluggish recovery.

3. In crossing the symbolically important 16,000 threshold, the Dow Jones Industrial Average has also more than doubled from the closing level on Jan. 20, 2009, the day Obama was inaugurated as the 44th President of the U.S. The S&P 500 (^GSPC), a more meaningful index because it better represents the full range of industries within the U.S. economy, was up 111% during Obama's time in office through Thursday.

4. Obama is one of the biggest tax cutters in US history.

5. Obama is one of the biggest deficit cutters in US history.

Lets all recall the last time the GOP was in charge of the economy. It was Deficits Don't Matter and a Great Recession. Heck even today Speaker Ryan is afraid to produce a budget.